EnLink Midstream (NYSE:ENLC) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of EnLink Midstream, LLC (NYSE:ENLC) saw strong trading volume on Wednesday . 4,822,476 shares were traded during mid-day trading, an increase of 44% from the previous session’s volume of 3,345,005 shares.The stock last traded at $14.13 and had previously closed at $14.16.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ENLC. Mizuho reaffirmed a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. US Capital Advisors cut shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. StockNews.com assumed coverage on EnLink Midstream in a research report on Thursday, January 23rd. They set a “hold” rating for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday, November 21st. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Down 0.1 %

The company has a market cap of $6.47 billion, a P/E ratio of 67.36 and a beta of 2.43. The stock has a 50-day moving average of $14.82 and a two-hundred day moving average of $14.43. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The company’s revenue was down 7.9% compared to the same quarter last year. On average, research analysts anticipate that EnLink Midstream, LLC will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On EnLink Midstream

Institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new position in EnLink Midstream in the 2nd quarter worth approximately $56,000. Wilmington Savings Fund Society FSB bought a new position in shares of EnLink Midstream in the third quarter worth approximately $98,000. Icon Wealth Advisors LLC purchased a new position in shares of EnLink Midstream in the third quarter worth $107,000. SG Americas Securities LLC purchased a new position in shares of EnLink Midstream in the fourth quarter worth $114,000. Finally, Sunbelt Securities Inc. raised its holdings in EnLink Midstream by 21.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,511 shares during the last quarter. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.